Oppenheimer Issues Positive Forecast for Deere & Company (NYSE:DE) Stock Price

Deere & Company (NYSE:DE) had its target price hoisted by Oppenheimer from $477.00 to $507.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also commented on DE. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $444.50.

Deere & Company Price Performance

Deere & Company stock opened at $480.59 on Tuesday. The stock has a market cap of $130.89 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.84 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business has a 50-day simple moving average of $440.14 and a 200 day simple moving average of $407.30. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the company posted $8.26 EPS. On average, research analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of DE. Wellington Management Group LLP raised its holdings in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. FMR LLC increased its position in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC raised its holdings in Deere & Company by 53,338.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC lifted its position in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.